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ECO402 : Microeconomics

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Course Info
Course Category	Economics
Course Level	Undergraduate
Credit Hours	3
Pre-requisites	ECO401
Instructor	Talat Afza PHD Wayne State University, USA

Course Contents
Introduction to Micro Economics Factors of Production Real versus Nominal Prices Changes in Market Equilibrium Elasticities of Supply and Demand Consumer Behavior Consumer Preferences Marginal Utility and Consumer Choice Review of Consumer Equilibrium Income & Substitution Effects Aggregate Demand Risk Analysis Preferences Toward Risk Reducing Risk The Technology of Production Production with two variable inputs Measuring Cost A Firm’s Short Run Costs Cost in the Long Run Production with Two Outputs Perfectly Competitive Markets Choosing Output in Short Run The Short-Run Market Supply Curve Long-Run Competitive Equilibrium The Industry’s Long-Run Supply Curve The Efficiency of a Competitive Market Price Supports Import Quotas and Tariffs Perfect Competition Profit Maximization under Monopoly Monopoly Sources of Monopoly Power Monopsony Power Second-Degree Price Discrimination The Two Part Tariff Bundling Monopolistic Competition Oligopoly The Prisoners’ Dilemma Competitive Factor Markets Factor Markets with Monopoly Power